Anheuser-Busch reports profit increase.Anheuser-Busch reported that its quarterly profit rose 13.4% in the first quarter, due to commodity hedges and beer price increases. The results beat Wall Street projections for the brewer. The company posted a first quarter profit of $549.9 million, compared with net earnings of $484.8 million last year. The sale of commodity hedges added $19.5 million to earnings. Gross sales Gross Sales A measure of overall sales that isn't adjusted for customer discounts or returns, calculated simply by adding all sales invoices, and not including operating expenses, cost of goods sold, payment of taxes, or any other charge. rose to $4 billion, from $3.8 billion, net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight , which include excise taxes excise taxes, governmental levies on specific goods produced and consumed inside a country. They differ from tariffs, which usually apply only to foreign-made goods, and from sales taxes, which typically apply to all commodities other than those specifically exempted. , rose to $3.48 billion from $3.28 billion. Anheuser-Busch volume rose 1.3% in the first quarter. In the U.S., volume rose 0.8%. Revenue per barrel rose 3.1% in the U.S. market, attributed to price hikes and trade ups to premium. Anheuser-Busch president Par Stokes Stokes , William 1804-1878. British physician. Known especially for his studies of diseases of the chest and heart, he expanded on the observations of John Cheyne in describing the breathing irregularity now known as Cheyne-Stokes respiration. said the company was confident in its long-term goal of double-digit percentage growth. |
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